10 African countries with the lowest debts to the IMF

Like most other regions, African countries face a myriad of challenges, tailored to their socio-economic realities. These challenges are typically a deterrent to their path to sustainable development, and managing their external debt is a crucial aspect of economic stability. Additionally, low debt levels contribute to reduced financial vulnerability for African nations.

Countries with lower debt levels are better positioned to maintain economic stability. High debt can lead to financial crises, currency devaluation, and inflationary pressures, just to mention a few.

By adopting a conservative approach to external borrowing, African nations can mitigate these risks and work towards creating a stable economic environment conducive to sustainable growth

Maintaining a low debt burden can offer several advantages that contribute to the overall economic well-being of a nation, and some African countries have done a good job at this, especially with specific lenders.

Source: Business Insider